Location: Duval County, TX | Metro: Duval County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The ZIP code 78341 stands as a dynamic market, influenced significantly by the interplay between rental and homeownership trends. With a Fair Market Rent (FMR) of $1,000 for the fiscal year 2026, it aligns closely with the current market rent of $867, indicating a steady state where neither landlords nor tenants face extreme pressures.
The median home value of $75,663 suggests that homeownership is accessible to many residents, yet the 45.1% renter share reveals a substantial portion of the population choosing or needing to rent. This high renter share points to ongoing housing pressure, as nearly half of the residents are not invested in property ownership, which can be indicative of economic challenges or lifestyle preferences that keep them in the rental market.
Absent specific data on price-cut share and days on market (DOM), we cannot definitively conclude whether supply outpaces demand or vice versa. However, the close alignment of FMR and market rent suggests a balanced market where demand meets supply effectively. If there were significant discrepancies between these figures, it might signal either a glut of rental properties or an undersupply, driving rents up or down respectively.
The dynamics at play in ZIP 78341 reflect a community where both renting and owning are viable options. The relatively low median home value could attract first-time buyers and investors looking for affordable entry points. Meanwhile, the moderate rent levels ensure that the rental market remains competitive, benefiting both landlords and tenants. This balance, however, is susceptible to shifts in broader economic conditions, local job markets, and housing policies that could alter the trajectory of both rental and homeownership segments.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.